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Business News of Thursday, 3 June 2021


SEC to outdoor policy position on cryptocurrency

Paul Ababio, Deputy Director-General of SEC Paul Ababio, Deputy Director-General of SEC

• The Deputy Director-General of SEC has said that the commission is putting measures in place to finally declare its position on cryptocurrency

• He said the country is still against cryptocurrency trading

• He said few experts will be contacted to dialogue with SEC and come up with a policy position that will then inform how to tackle the issue

The Securities and Exchange Commission (SEC) will in the next few weeks outdoor its policy position on cryptocurrency trading which will indicate the way forward for trading in the blockchain.

This will be after proposals from key industry and experts through engagements, with advice from the Bank of Ghana as well.

Speaking with Joy Business closely monitored by GhanaWeb, the Deputy Director-General of SEC, Paul Ababio he noted that, the commission will state its final position on the cryptocurrency trading after the dialogue.

“In accessing Ghana’s position and how we deal with some of these products, we want to form an engagement platform where we will invite a few stakeholders, I will say those who are already in the industry and them a few experts to dialogue with us and to come up with a policy position, that will then inform how we tackle these things. Because these are cross-border transaction, we will obviously rely on the bank of Ghana as well for consultation and in the next few weeks, we will come up with a policy position around that,” he said.

However, the capital market regulator has warned that cryptocurrency transactions are still illegal in the county and has advised the public to stay away from them.

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